Global Demand Destruction: Subsidies, Empty Gas Stations, Rationing, Flight Cancelations, Export Limits, Price Controls

Bank Lobby Fires Back At White House, Saying Stablecoin Study Ignores Community Bank Threat Authored by Micah Zimmerman via BitcoinMagazine.com, The American Bankers Association is warning that the White House’s latest stablecoin study is asking the wrong question and underestimating the threat to community banks. On April 8, the Council of Economic Advisers released a 21‑page paper modeling what happens if payment stablecoin issuers are barred from paying yield. The analysis, tied to the 2025 GENIUS Act’s prohibition on interest for payment stablecoins, finds that banning yield would raise bank lending by only about 2.1 billion...

Adam Back Says Quantum Threat To Bitcoin Is Decades Away, Urges Gradual Migration To Post-Quantum Security Authored by Micah Zimmerman via BitcoinMagazine.com, Blockstream CEO Adam Back pushed back on concerns that quantum computing poses an imminent threat to Bitcoin’s cryptographic security, arguing that current progress in the field remains far from the level required to break real-world encryption. Speaking in an interview with Bloomberg, Back noted that much of today’s quantum research is still in its early experimental phase. He pointed to the limited capabilities of existing quantum hardware, which often lacks full error correction and...